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Old 01-07-2014, 09:31 PM   #57
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Originally Posted by myredracer View Post
By comparison, anyone wanting to retire to the Greater Vancouver area in BC, Canada's banana belt, we are faced with:

- 2nd highest housing prices in the world, behind Hong Kong.
- average detached home price in Vancouver over $1 million.
- average home price in areas just outside Vancouver, $550K-ish
- property taxes in the $4,000 - $7,000 range.
- prop. transfer tax when you buy, 1% to $200K & then at 2%.
- average income tax in of over 40%.
- sales tax of 12% on just about everything (PST + GST).
- highest gas taxes in Canada, approx. $1/US gal.
- tax freedom day currently June 1 in Canada.
- all taxes combined on average, 50% of person's income.
- and if I've missed anything, they will tax that too.

Clearly not a place for retirees to move to...

Here's what you get for $1.7 million in the City of Vancouver:

http://http://www.huffingtonpost.ca/2013/03/06/vancouver-housing-bubble-absurd-prices_n_2822178.html We bought our first house near this in '79 for $74K but moved away in '81. Shoulda kept it I guess, would have been worth maybe $3 million now.

Many people in and around Vancouver simply bail out and move well away when they retire. I'd move to the US in a heartbeat if it weren't for the fact we'd lose our medical coverage. Sounds like almost anywhere in the US would be way cheaper than here. I like Oregon a lot, not too hot and not too wet & cold..
i moved from NS to BC and after 5 years decided to move back east, landed in AB and loved it! (haven't made it back yet)

I stayed away from the big city's and went south, really south and found a large home in a small town for under (well under) 100K
The minimum wage was good and the people more than friendly, (that is why we get a lot of the Texans up here, we get along just fine!!

We have had the mildest winters compared to the northern cities, (except for this year) but we do get more Chinooks here than 2 hours north.

So it isn't nearly as bad as BC, all I did was trade the rain for a bit of snow and big blue skies almost every day...and I love it...I will be going fulltime but my winters will be in the BC interior and the summers here in AB, I much prefer the dry climate we have here and the unclogged highways.
BC is a nice place to visit but I want out in the winter (on the coast) and will go to the interior, I do love it there.

anyhow, that is my nickles worth of opinion, if I could just find some catfish a-la Alabama... all would be purrrfect!!
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Old 01-08-2014, 05:18 AM   #58
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Not that I want to hijack this thread any more than it already has been, it is the property, not the structure that costs so much. The prices in Dunbar are way different than Port Moody which is only 30 mins from downtown. I can speak directly of houses right across from me that are newer, have nice backyards and views that went for 625,000, just last summer. A far cry from the extreme examples quoted in the referenced link. A great bargain, no, but you can't toss out a few extreme prices from deluded sellers and hold that up as some kind of proof that the place is ridiculous. The market is what the market is and the fact is that anything with real property has not lost value here in 2 or more decades. Townhouses, condos and such have suffered more but that is because you typically don't own the land. I think the only thing that is like to cause a major real estate correction here will be a sizable earthquake.

People from elsewhere may not realize is that Vancouver and region is limited as to growth potential. We are hemmed in on 3 sides by mountains, oceans and international boundaries. Simply put there isn't any of the wide open spaces that places like AB and for that matter, much of the rest of Canada has for growth. Very similar in that regard to Hong Kong. That makes land somewhat scarce and expensive and that isn't going to change.

Despite the high prices and such, this region continues to grow. Coming from less populated regions, it is a lot harder to give up things like space, solitude, easy parking and all for more money. I don't doubt that coming from NS to Vancouver would be a challenge at a number of different levels. The entire province makes up less than half of the total population of Vancouver and surrounding area.
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Old 01-08-2014, 11:18 PM   #59
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Originally Posted by sirpurrcival View Post
Not that I want to hijack this thread any more than it already has been, it is the property, not the structure that costs so much. The prices in Dunbar are way different than Port Moody which is only 30 mins from downtown. I can speak directly of houses right across from me that are newer, have nice backyards and views that went for 625,000, just last summer. A far cry from the extreme examples quoted in the referenced link. A great bargain, no, but you can't toss out a few extreme prices from deluded sellers and hold that up as some kind of proof that the place is ridiculous. The market is what the market is and the fact is that anything with real property has not lost value here in 2 or more decades. Townhouses, condos and such have suffered more but that is because you typically don't own the land. I think the only thing that is like to cause a major real estate correction here will be a sizable earthquake.

People from elsewhere may not realize is that Vancouver and region is limited as to growth potential. We are hemmed in on 3 sides by mountains, oceans and international boundaries. Simply put there isn't any of the wide open spaces that places like AB and for that matter, much of the rest of Canada has for growth. Very similar in that regard to Hong Kong. That makes land somewhat scarce and expensive and that isn't going to change.

Despite the high prices and such, this region continues to grow. Coming from less populated regions, it is a lot harder to give up things like space, solitude, easy parking and all for more money. I don't doubt that coming from NS to Vancouver would be a challenge at a number of different levels. The entire province makes up less than half of the total population of Vancouver and surrounding area.
I hear you, and don't get me wrong, I lived in north Van and did love it, but I had come to Vancouver for a specific reason, and always planned to return to NS. I lived in the Shuswap for a couple of years too and could have easily purchased there but was still thinking of returning east. I do realize that Vancouver has no where to go but ' up' and it's basically good weather makes it a magnet for those who prefer milder temps.
Moving from NS was not a big adjustment at all for me as I have lived in most of the cities in this country including Vancouver a couple of times over.

For me it is not the land that appeals but the dry weather. Humidity is a big bugaboo for me,and whether it was in Atlantic Canada, Vancouver coast ,or Florida, when the heat got humid I found it more than uncomfortable,so finding a dry province was a bonus for me, going south got me out of the cities and finding a house in a small town was not a search but an accident.

My son came to visit and I heard him on the phone telling his friend, 'it's amazing, you can watch your dog run away for two days!

Having been raised and living in crowed cities all my life, I kinda like it like this!!
I do have to admit though for raw beauty you cannot beat the two coasts, and the history of Atlantic Canada is most intriguing, being first settled, and BC is newer and it also has a most interesting history.

All in all it is where you feel most at 'home' or most comfortable, that is where you should retire, and when it doesn't suit any longer, move!..
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Old 01-09-2014, 06:55 AM   #60
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Right now I'm sitting with my wife at her family home in the Philippenes watching all the kids playing thinking this will be a nice place to retire
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Old 01-09-2014, 10:01 AM   #61
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Real estate prices are basically supply and demand. More demand with lots of space and you have Dallas with low prices. (And BTW I consider Dallas a good place to live.) More demand and less space and you have Manhattan or San Francisco or Vancouver with very high prices. At some point rising prices, crowding, and special interests cause things to change. (What I mean by special interests if groups that make a place less desirable to live like the recycle police in San Francisco.)

I used to travel to Vancouver on business all the time. Pretty place if you can take the rain, but overly expensive unless your work generates lots of money.

But then I am frugal. I consider the original price for our coach to be astronomical and would have never paid it. But I happily bought it from a guy who suffered reverses in the 2008 crash for less than 30 cents of the dollar.
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